News and Events for Attorneys and Executives

Days before President-elect Donald Trump was to take the oath to uphold the Constitution, he followed through on a more painful obligation: coughing up $25 million to settle litigation over his defunct Trump University real estate seminar program, reports Politico.

Josh Gerstein reports that Trump University — now known as the Trump Entrepreneur Initiative — transferred the funds Tuesday night, according to two sources involved. The settlement provides enough money pay back about half of the funds paid by students for the seminars.

“Last March, Trump vowed not to settle the long-running litigation — two federal class-action fraud lawsuits and a parallel state court action brought by New York Attorney General Eric Schneiderman.” writes Gerstein. “The suits accused Trump U. of deceiving students by falsely claiming that Trump knew the instructors and that the school was an accredited university.”